Japan should focus on back-stopping struggling businesses rather than trying to spark overall demand in fighting the coronavirus pandemic, its economy minister said, suggesting the central bank should avoid pushing interest rates deeper into negative territory.
The remark by Yasutoshi Nishimura, made in an exclusive interview, underscores the challenge Tokyo faces in supporting an economy bracing for its worst postwar slump, while preventing a renewed spike in infections.
"What's most important now is to protect jobs and help businesses survive the pandemic," Nishimura said in the interview on Saturday.